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Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
 Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in May 2015. But over the past few weeks, the scene has completely changed. There is an apparent lack of demolition candidates, while demo prices in the Indian subcontinent have lost over $30/ldt on average during the same period. Bangladesh and Pakistan were competing quite strongly offering a small premium over India’s Alang prices. However, the recent heavy decline in local steel plate prices has forced most end buyers to reduce their offering price.
In view of the restocking ahead of the monsoon season in late May –June and the annual budgets in Pakistan and Bangladesh during the same period, we remain to see if rumors of any new duties/taxes will come into effect for the respective domestic ship-recycling sectors, and how such developments will affect scrap buyers appetite.
We have to keep in mind that at the moment only Bangladesh and India can cut gas free and clean for hot works tanker vessels, as after the fatal accidents that took place in Pakistan earlier this year, there is still a total ban on the demolition of all wet units in the country.
Scrap prices are mainly dictated by steel demand and steel prices and these are subsequently affected by iron ore commodity prices. Iron ore prices had climbed from below $60/ton in Oct 2016 to approximately $96/ton in February this year. Since then, the price of the commodity has constantly dropped to settle at low $60/ton levels and at the end of last week when a full-scale retreat took place, with futures in China, Dalian Iron Ore witnessing a limit down on investor concern in regards to demand outlook.
It seems that the deleveraging of China's $4 trillion shadow banking system just accelerated massively as Bank Wealth Product Issuance crashed 15% month-over-month. With stocks and bonds already plunging, commodities joined the decline that came after tightened regulation on macro-prudential assessment and interbank business. According to the China Iron and Steel Association, there is still room for iron ore to decline further amid oversupply with imports and port stockpiles remaining at high levels that further support oversupply.
Over the past months, Capes and Panamaxes freight rates increased significantly by demand for more shipments, together with record steel production in China, and that has helped boost stockpiles at local ports. After peaking at a record 132.5 million tons in March, stockpiles have held near that level, according to Shanghai Steelhome E-Commerce Co.
Since the end of March though the BCI has lost more than 1,100 points and the average earnings quoted by the Baltic Exchange have dropped from $20,650/day to $12,446/day today. Is it time to panic? The reality is that we are still way above the $1,985/day the big bulkers were earning in March 2016, but signs are indicating a slowdown in demand that inevitably always leads to pressure on earnings. As we are all waiting to see how long will this pressure last, all hopes for sustained positive sentiment in the dry bulk market have now been placed on the grains trade that could potentially make up for some of the lost momentum due to the slowdown Capesizes are currently witnessing.
By John N. Cotzias
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
Coal Supply
EIA estimates that U.S. coal production declined by 158 million short tons (MMst) (18%) in 2016, to 739 MMst, which would be the lowe ...
Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a ...
Tuesday, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
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- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
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